What Is Reasonable Compensation

Reasonable compensation refers to the amount of compensation paid to an employee or owner that is considered reasonable and appropriate for the services they provide, given their role,[...]

What Are The Legal Requirements Of An S Corp?

A S corporation must meet the following legal requirements: Be a domestic corporation Have only allowable shareholders, including individuals, certain trusts, and estates and Not more than 100[...]

How is an Airbnb taxed?

Airbnb rental income is considered taxable income and must be reported on your tax return. Here's a brief overview of the tax implications for Airbnb rentals: Federal income[...]